The U.S. Securities Exchange Commission issued an investor alert warning that cryptocurrency asset investments offered in some self-directed individual retirement accounts (IRAs) may be unregistered securities, according to a release Tuesday. Those crypto asset stakes "may not be accompanied by complete or accurate information to aid investors in making informed decisions,” the regulator cautioned. Also, a slew of the "trading platforms refer to themselves as ‘exchanges,’ which may give investors the misimpression that they have registered with the SEC.” In general, the SEC has been cracking down on crypto-related firms who have sold securities that were never registered. Just last month the regulator sued crypto lender Genesis Global Capital and crypto exchange Gemini Trust with selling unregistered securities to retail investors. A similar charge was brought against Dragonchain in August 2022 for its role in raising $16.5M in unregistered crypto asset securities offerings .
SEC Hosts First-Ever Crypto Roundtable Today
